Agmt24 William Euphrat Municipal Finance, Inc.

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REV: 07-05-24 MI 11.9. The parties expressly agree that this Section 11 will survive the expiration or early termination of the Agreement. 12. Insurance. Consultant will obtain and maintain for the duration of the Agreement and any and all amendments, insurance against claims for injuries to persons or damage to property which may arise out of or in connection with performance of the Services by Consultant or Consultant’s agents, representatives, employees or subcontractors. The insurance carrier is required to maintain an A.M. Best rating of not less than “A-:VII”. 12.1. Coverages and Limits. Consultant, at its sole expense, will maintain the types of coverages and minimum limits indicated below, unless otherwise approved by City in writing. These minimum amounts of coverage will not constitute any limitations or cap on Consultant's indemnification obligations under this Agreement. 12.1.1. Commercial General Liability Insurance. Consultant will maintain occurrence based coverage with limits not less than $2,000,000 per occurrence. If the submitted policies contain aggregate limits, such limits will apply separately to the Services, project, or location that is the subject of this Agreement or the aggregate will be twice the required per occurrence limit. The Commercial General Liability insurance policy will be endorsed to name the City, its officers, agents, employees and volunteers as additional insureds, and to state that the insurance will be primary and not contribute with any insurance or self-insurance maintained by the City. 12.1.2. Business Automobile Liability Insurance. Consultant will maintain coverage with limits not less than $1,000,000 per each accident for hired and non-owned automobiles. 12.1.3. Worker’s Compensation Insurance and Employer’s Liability. Consultant shall maintain coverage as required by the California labor code and Employer’s Liability limits with limits not less than $1,00,000, per each accident for bodily injury or disease. The worker’s compensation policy shall contain an endorsement stating that the insurer waives any right to subrogation against the City, its officers, agents, employees and volunteers. Insurance will not be required if Consultant has no employees and provides, to the City’s satisfaction, a declaration stating this. Such declaration is attached hereto as Exhibit “B”. 12.1.4. Professional Liability Insurance. Consultant will maintain coverage with limits not less than $1,000,000 per occurrence. Professional Liability may be written as claims-made coverage. 12.2. Notice of Cancellation. This insurance will be in force during the life of the Agreement and any extensions of it and will not be canceled without Consultant ATTY/AGR.2024.095/William Euphrat Muncipal Finance (Water Enterprise Revenue Bonds) (Page 5 of 15)